Ice Edge Holdings have withdrawn from the auction for the Phoenix Coyotes, leaving only Jim Balsillie and the NHL left in the auction.
PSE Sports and Entertainment, the company used by Jim Balsillie to bid for the team, have recently upped their bid potential to $242.5 million USD. The condition of the bid of course, is that the team be relocated to Hamilton in order to give Canada its 7th hockey team.
The NHL is bidding $140 million, but plans to sell the team immediately after acquiring it.
So lets take a look at the last two candidates:
Jim Balsillie – Hockey lover, esteemed business man and the largest bidder.
The NHL – Protectionist boobs who want to flip the team like an old house.
According to the Gary Bettman, the NHL commissioner, “the league intends to resell the franchise as promptly as possible, hopefully to an approved owner who will keep the club in Glendale.” But Glendale have already shot themselves in the foot on this one. They had the chance to come to an agreement with Ice Edge Holdings, but it wasn’t going to happen. While it’s not clear why, Ice Edge told the media “We couldn’t get there with the City of Glendale.”
So the City is too greedy and the NHL are bidding too low for a franchise they don’t even want.
Can this please be over with already?